According to the Financial Times, Mark Rowan, CEO of asset management company Apollo, said in his speech to investors that Apollo Global is increasing cash reserves, reducing leverage ratios, and withdrawing capital from the riskier bond market. Ron said in a private meeting with investors this month that his “priority” is to “have the best balance sheet possible” so that Apollo can perform well and be profitable “in the event of an unfavorable situation.” Ron said at the conference that Apollo has enhanced the liquidity of its insurance company, Arthany, and cut a large number of leveraged loans by purchasing additional billions of dollars in treasury bonds. Apollo's management emphasized this defensive stance at an internal staff meeting in December last year. Apollo declined to comment.

According to the Financial Times, Mark Rowan, CEO of asset management company Apollo, said in his speech to investors that Apollo Global is increasing cash reserves, reducing leverage ratios, and withdrawing capital from the riskier bond market. Ron said in a private meeting with investors this month that his “priority” is to “have the best balance sheet possible” so that Apollo can perform well and be profitable “in the event of an unfavorable situation.” Ron said at the conference that Apollo has enhanced the liquidity of its insurance company, Arthany, and cut a large number of leveraged loans by purchasing additional billions of dollars in treasury bonds. Apollo's management emphasized this defensive stance at an internal staff meeting in December last year. Apollo declined to comment.